Gold Technical Analysis (XAUUSD): Today, the price of gold is trading at $3,108.62 per ounce. Trading appears to be in a downward trend, as the price is trading below most of the Moving Average crossovers. The MACD indicator indicates a negative trend.
Accordingly, if we sell, we will wait for a drop to $3,097.33 per ounce, targeting the $3,086.85 per ounce area to take profits, with the $3,120.13 per ounce area as a stop-loss.
Gold Technical Analysis (XAUUSD): On the Other Hand
On the other hand, if the $3120.13 buy zone is broken, the price may head to the $3128.76 zone.
Gold Technical Analysis (XAUUSD): Resistance and Support Levels
- Second Resistance: 3112.55
- First Resistance: 3110.25
- Pivot Level: 3108.91
- First Support: 3106.74
- Second Support: 3104.78
